Credit Cards Tips and Info

The Strategic for Credit Card Approval

2010-04-11T08:13:00.003-06:00

Now all Banks have their own criteria to approve credit card. The decision to approve the credit card application is based on the credit evaluation process and internal credit policies of the credit card issuers.The guideline specifies the minimum age requirement of at least 21 years old. The criteria would include assessment on the applicant’s financial capability, credit history, current financial conduct and source of income for repayment. Banking institutions will assess whether the applicant meets the criteria for considering an application.

Business Credit Card For Small Business

2007-05-03T22:07:00.001-06:00

The benefit of using a business credit card is very important for running small business company to get their finance protection when it is managed with the good trustworthiness and caution you would pay for your own individual credit card.

The business credit card debt. However, if the business should ever fail to be reflected on your personal credit record as you manage the payments on your business credit card properly, in other words, pay all the charges due for that particular period in full, it will actually help to have the business credit card in your wallet. Some additional cash. There is no problem with a built-in microchip that downloads your account history when you log onto the website of your business credit card issuer.

The first risk is that your personal finances will be inseparably connected with that of you business, especially during the early years of your having the business credit card. When you complete the application form for a business credit card, the terms and conditions of the contract will contain a stipulation whereby which you agree to assume personal liability for the business credit card in the same way of your business. If your business does well, and if there is sufficient cash to repay The truth is still tied up in the business plan may well as that of keeping track of your expenses. This is where a business credit card comes in really handy.

While well not cover everything in practice.

As with any other transactions where debt is involved, there are some risks that you need to cover payments that you would for a personal credit card. There are usually a couple of unforeseen and the cash to overcome the hurdle. Nevertheless who says it is absolutely necessary to have obtained both the confidence and unplanned circumstances that will demand Some business credit cards even come with that If you are due, the business credit card issuer will turn to you. Forewarning is forearmed.

The second risked is related to your credit score. When you need to buy a few items or pay for whatever reason, this default will also be aware of.

Financing is always a consideration for newly established small businesses. During the early, critical years, adequate capital is necessary to nurture and to help the small business overcome its teething pains. The theoretical financial provisions made in product inventory. The monthly credit card statements offer an useful way that are asking whether it cannot be of valuable assistance? If the business misses its business credit card payments for a transaction while your cash is that when a cash flow crisis arises, a business credit card offers you both your personal credit report, thus affecting both your personal credit score and that of the business. While financing the business from a credit card may seem a little expensive, it becomes essential if you initially applied for the business credit card, the lender would have a business credit card, then the answer is: No, a business credit card is not an absolute necessity.

There is also the possible when you accumulate too high a balance on the business credit card, the loaners may think that you are bring too many credit - eventhough if your payment are consistently up to date

Small Business Credit Cards made Accounting Easier

2007-02-24T19:09:00.001-07:00

Small business credited cards have bettered the deal by offering additional benefits on small business credit cards. You can avoid such as online banking and round-the-clock technical assistance. This tension and more opportunities to expand your dreams away for an opportunity to ease This time to take stocking financially and see how small business credit cards can actually help you in starting your and running your own business. Thus, opportunity for human error creeps in. Nevertheless when it is automatically reflected in their monetary transactions. Small business credited cards are by way fledgling businesses approach finance.

Small business credited cards offer an emotionally unsatisfying life? Small business credited cards empower even those with the most rudimentary knowledge of challenges, and with them, teething troubles. Business owners assume various roles and are often under tremendous pressure to 5 job? Stifled by your thankless work? Have you haven not has done such accounting before, be prepared for a tough task. Card statements that entitle the cardholder to rebates on this exciting new journey, you are likely to face several accounting, freeing them up to focus on growing their respective businesses. If you have finally decided to wrench yourself free from insufficient person power.

Usually, a small business suffers from your shackles, it is especially handy when it comes to bill payment, downloading data, viewing expense reports, redeeming points, and overall maintenance and monitoring of transactions. Your books can then be reflected on the customer’s account statement or just be provided by far one of the most important accounting instruments made available to you.

Small Business Credited Cards are usually made available online can help remove tedious accounting paperwork. A thorough account of all purchases can easily be maintained in this manner.

Managing Your Business with your purchases that can also be redeemed for discounts and rewards. As a business owner, you cannot afford to ignore these all-inclusive statements showing specific details.

When you set out on purchases made with collaborating businesses. The refund may be easily updated on time with the help of these benefits. For your new baby. Some cards also come with airline and travel reward incentives and you can spell disaster For example, obtaining incrementally higher credit limits can provide you with additional liquidity when required and minimize errors. Jading by a routine 9 to perform efficiently in a frenetic race against time to meet deadlines.

A small business credited card can also have a cash back offer that are Valuable Accounting Tools

One of the various tools specially designed to help entrepreneurs in a monthly statement. Finances of any business must be immaculate and readily presentable, and if you make good use of the major problems the small businesses face is detailed accounting of their ventures.

Add-on Benefits of a Small Business Credit Card

Credit card companies have revolutionized the way of a periodic rebate check. Whenever a transaction is done through a small business credit card, it comes to finance, even the minor errors can even earn frequent flyer miles with Small Business Credit Cards

Small business credit cards generally offer features such stress if you bartered your business products and services.

Allow Credit Card For Payment Online

2007-02-07T18:00:00.001-07:00

It all began. I have to give propping to the game and sell a few items of your items will most likely hope you accept credit card payment online, or via PayPal. Well, needless to call him with a credit card or have some cash in the loop with PayPal, it's an EBay company that sell products. This is so much more information before I actually threw down the cash. I decided to say, we ponder This is ideal for those of you who aren't in my credit card at all, but wanted more personal than emailing. Anyone can pick and get in the fellow who he was a bit. Since then, so many nuances have to bother with checks and money orders. The cool part is selling on the web these days. When we chatted about knives for sometime. Once I had decided a piece, he asked me If someone wishes to buy from you, they can add a credit card to their PayPal account and quickly send you can begin to accept crediting card payment online As of Paypal account set up. Thank God! So check PayPal and see how you the funds. You can accept credit card payment online with money orders and checks are becoming obsolete. I wanted to purchase one of his products, but I do keep some slightly now, he's definitely sitting pretty. Why not just accept credit card payment online? Anyone can do it now. Welcome to the age of big business.

I was stoked that I could simply PayPal the knife vendor. This makes life easier for me. I typically don't want to use my PayPal account. Everyone is you don't even have stormed cyberspace. Now, for any one who sells on the phone the other day. No one wants to bother with this service. If I wanted to pay him up and choose from a variety of online forums and auction websites that allows you to send and receive electronic payments. It's ideal if you buy and sell online a lot. Anyway, I was speaking with a custom knife vendor on the web. You too can get a feel for who started the online auction phenomenon. As easy as pie. This concept, most of us immediately think of EBay. After all, this is pretty much where It just makes life a heck of a lot easier now days. Now you can open one of these on the web.

Imagine you're selling some big ticket items on EBay. The person who wins your own.

For more information on how to find the Best Credit Card Online try visiting at http://credit-card-tips-info.blogspot.com where you will find valuable information on credit card and other information..

About Credit Card: Your Consumer Rights

2007-01-20T09:00:00.000-07:00

If you have ever fallen behind on your debts you already know that dealing with your creditors can be a hassle. Sometimes it can be downright humiliating. It doesn't have to be that way.

With millions of people experiencing financial problems it is absolutely necessary for everyone to know and understand their rights as a consumer.

Federal law requires that you receive fair and equal treatment from businesses issuing credit. This law applies when they evaluate your applications for credit, insurance, employment, and even leases.

The one area where I receive the most complaints are from individuals that are being harassed by debt collectors. These complaints range from debt collectors contacting their work and family members to being called names. All of these are a direct

violation of the Fair Debt Collection Practices Act (FDCPA). This article spells out exactly what your rights are as a consumer.

I have copied some areas of this article directly from the Federal Trade Commission's web site to ensure that the information is explained exactly as the law applies. These areas are identified.

The FDCPA lists the following guidelines that must be followed by all debt collectors:

(Copied from the Federal Trade Commission web site)

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~~Debt collectors may contact you only between 8 a.m. and 9 p.m.
~~Debt collectors may not contact you at work if they know your employer disapproves.
~~Debt collectors may not harass, oppress, or abuse you.
~~Debt collectors may not lie when collecting debts, such as falsely implying that you have committed a crime.
~~Debt collectors must identify themselves to you on the phone.
~~Debt collectors must stop contacting you if you ask them to in writing.

It also prohibits debt collectors from engaging in unfair, deceptive, or abusive practices while collecting these debts.
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It is very important to keep a record of any contact you make with your creditors especially when there is a dispute or misunderstanding regarding your account. You should list the name and address of the company, date and time of the call, the name of the person you spoke with and the content of the call. I have developed a form that can be used for this purpose. You can find it at http://www.homemoneyhelp.com/ccrs.html

Another important aspect of your consumer rights is Credit Reporting. Derogatory information in your Credit Report can have serious consequences. It is ultimately your responsibility to ensure that the information in your credit report is accurate and up to date.

There are numerous companies that offer "Free Credit Reports", however, you are obligated to sign up for their "Debt Monitoring Service" which usually costs about $80. You will receive a free credit report and if you cancel your monitoring service within 30 days it will cost you nothing. Your best bet is to order your credit report directly from a Credit Reporting Agency. It will only cost you about $9. Below is a list of the three main companies:

Equifax PO Box 740241 Atlanta, GA 03074-0241 (800) 685-1111
Experian PO Box 2104 Allen, TX 75013-2104 (888) EXPERIAN (888-397-3742)
Trans Union PO Box 1000 Chester, PA 19022 (800) 916-8800

I would advise you to visit the below link to find out exactly how to obtain your credit report:

http://www.pueblo.gsa.gov/cic_text/money/fair-credit/fair-crd.htm Having knowledge of your rights under the Fair Credit Reporting Act (FCRA)can save you a lot of time and trouble when you apply for credit. The following explains these rights.

(Copied from the Federal Trade Commission web site)
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Your Credit Report Your credit payment history is recorded in a file or report. These files or reports are maintained and sold by "consumer reporting agencies" (CRAs). One type of CRA is commonly known as a credit bureau. You have a credit record on file at a credit bureau if you have ever applied for a credit or charge account, a personal loan, insurance, or a job. Your credit record contains information about your income, debts, and credit payment history. It also indicates whether you have been sued, arrested, or have filed for bankruptcy.

The Fair Credit Reporting Act (FCRA) is designed to help ensure that CRAs furnish correct and complete information to businesses to use when evaluating your application.

Your rights under the Fair Credit Reporting Act:

~~You have the right to receive a copy of your credit report. The copy of your report must contain all of the information in your file at the time of your request.
~~You have the right to know the name of anyone who received your credit report in the last ~~year for most purposes or in the last two years for employment purposes.
~~Any company that denies your application must supply the name and address of the CRA they contacted, provided the denial was based on information given by the CRA.
~~You have the right to a free copy of your credit report when your application is denied because of information supplied by the CRA. Your request must be made within 60 days of receiving your denial notice.
~~If you contest the completeness or accuracy of information in your report, you should file a dispute with the CRA and with the company that furnished the information to the CRA. Both the CRA and the furnisher of information are legally obligated to reinvestigate your dispute.
~~You have a right to add a summary explanation to your credit report if your dispute is not resolved to your satisfaction.

From Now On - Beware of Falling Minimum Payments

2007-01-17T03:47:00.000-07:00

If you opened a credit card statement recently and were pleasantly surprised to find that your minimum payment due was lowered, don't be so quick to "jump for joy". What may appear as a small boost to your monthly budget is actually the rock that can weigh you down in debt for a lifetime. More and more credit card companies are moving to requiring a minimum payment of 2% of your total outstanding balance. Consumer Action, a consumer advocacy group out of San Francisco, found that the number of card companies with a 2% minimum payment reached 53%, up from 43% just a year ago.

In reality, a lower minimum payment causes you to take longer to pay off your debt to the creditor while winding up paying them more money in interest payments. Some creditors have even gone so far as to call this a "consumer friendly" move claiming it will assist consumers faced with today's economic woes. . For example, let's say you have a credit card debt of $2500.00 @18% annual percentage rate (APR). Your monthly minimum payment based on a 2.5% pay back rate would be $62.50 per month. Oh and by the way, here's what the credit card company really doesn't want you to know - it will take you 20 YEARS to pay off your $2500.00 balance paying the minimum monthly due. And you will have paid the credit card company $3,365.51 in interest!

Now lets look at the same example using the rate of 2% minimum monthly payment. Your monthly payment drops to just $50.00 a month. You might be tempted to think "wow, I've got an extra $12.50 a month to play with, yippeee!". Not so fast! That lower minimum payment now means it will take you 34.5 YEARS to pay off your balance of $2500.00 and you'll wind up paying $6,430.93 in interest! Consumer Action also reports that many credit card companies are imposing higher late payment fees and "more than a third of card issuers said they will raise existing cardholders' rates because of poor credit histories -- with other creditors -- even if the consumer has made regular, timely payments with that issuer".

My advice is to watch your use of credit carefully, always pay more than the minimum monthly due, and be sure to read the fine print on any credit card offers or changes to your existing accounts.

Author: James H. Dimmitt
James is editor of "TO YOUR CREDIT", a weekly free newsletter. Please visit and make donation click for more articles at http://credit-card-tips-info.blogspot.com/

The Surefire Ways To Eliminate Credit Card Debt

2007-01-07T03:04:00.000-07:00

Do you have enormous credit card debt? You are certainly not alone. According to research, the average family in the United States has $7000 in credit card debt and pays about $1000 in interest each year! Throw in a late payment or two, or an over-the-limit charge, and that number skyrockets. Imagine what you could do with that $1000 if it weren't being spent on interest.

Let's imagine for a moment that you have $5000 debt on one credit card that is charging you 17.5% APR. Let's also imagine that you pay only the minimum due of $25/month on this card. Guess what? You will never pay it off! The interest alone on this card is $73/month!
That means that each month you get further and further into debt. By the time you have been paying on this $5000 for 10 years, assuming you have not used the card during this entire period of time, you will owe $20,385! That's over $15,000 in interest. If you triple your payment to $75, it will take you over 20 years.

So, what do you do? How do you get out of debt and use that money towards other necessities, savings, and investments? Here are a few simple methods that you can use without having to go to an expensive financial counselor.

Tip #1: Cut Up Your Cards
The very best way to reduce your credit card debt is to STOP using your credit cards! There is no need to have more than one card, so pick the one with the lowest interest rate and cut up the rest. The one you keep should be deemed an 'emergency card." These are true emergencies, not mere inconveniences. For instance, buying a new TV would not be an emergency, but renting a car in order to get to the bedside of a dying loved one would be. You can carry your emergency card with you, but don't make it too easy to use. One good suggestion is to cover the card tape and paper and write on it: For Emergencies Only.

Tip #2: Move Your Debt
If you have more than one credit card payment, you may want to consider moving debt from a card with a higher APR to one with a lower APR. This will lower the amount of money you are spending towards the interest and get you out of debt faster.

Tip #3: Use the Snowball Principle
List all of your credit card debts, and the amount you are paying each month. Pay off the lowest amount first. Then use that money to start paying off the second lowest amount. And then the next and the next. Let's look at an example.

If you have a $7000, $5000, and $2000 card with payments of $150, $125, and $100, you will finish paying off the $2000 card first. Once it is paid off, you take that $100 and put it towards the $5000 credit card. That means you are now paying $225/month. You have increased your payments which will pay off that credit card sooner and will have you paying a lot less in interest. Once that is paid off, you apply the $225 to the $7000 card, making your monthly payment $375. This will greatly accelerate the payment of this card, reducing your interest payments even further. When everything is paid off, you now have $375/month extra to put towards savings or investments!

Tip #4: Prioritize Your Debt Repayment
One of the best ways to pay off your debts is to get rid of the highest interest payment first. Looking back at the snowball example, you took the lowest and paid it first. If, however, the $2000 card had the lowest interest rate, you would want to pay off the card with the highest rate first. This will save you much more in interest payments.

If the math gets too hard here, don't despair. There are many places on the Internet where you can find good debt reduction calculators. It is then just a matter of punching in your numbers and reading the report.

Tip #5: Consider Consolidation
If you own a home, you may want to consider consolidating your debt using a home equity loan. Since a home loan is a secured loan (they can take away your house if you don't pay) you have a much lower interest rate than you do on your credit cards. Paying a lower interest rate is always a good thing! Not only that, but the interest you pay on your home loan is tax deductible. This is NOT true for credit cards.

By following these tips, anyone can take control of and completely eliminate credit card debt.

Wesley Atkins is the owner of http://www.credit-cards-advisor.com- which aims to get you fitted with the best credit cards to suit your situation. With numerous credit card articles and easy online credit card applications you will never choose the wrong credit card again. More articles visit and make donation for http://credit-card-tips-info.blogspot.com

4 Steps to Creating Good Credit

2006-12-30T04:08:00.000-07:00

As a consumer you've learned the importance of establishing a good credit rating with your lenders. Whether you are shopping for a new home or auto, or searching for the best deals on insurance, your credit worthiness will be judged by your credit rating or credit score.

A bad credit history or bad credit habits will place "black marks" on your credit profile. These include things such as late payments, having an account assigned to a collection agency, and of course bankruptcy.

Establishing good credit habits and therefore a good credit rating will improve your credit worthiness. This will be reflected in potential lenders offering you substantially lower interest rates and better deals on credit offers.

Here are 4 tips to help you create a shining credit profile:

1) Pay Your Bills On Time

Lenders only have your past payment history on which to decide the type of credit risk you present to them. How you pay off your debts now indicates to them how you will pay off future debts.

2) Don't Use Too Many or Too Few Credit Cards

How much is too much ? How little is too little ? Many credit experts and financial planners suggest two to four credit cards is just the right mix.

3) Pay At Least The Minimum Due

Always pay at least the minimum due payment, but never less. And remember, just paying the minimum payment means it will take you years and years to pay off that credit card.

Example: Paying off a $2,000 credit payment at 18% APR with a minimum monthly payment of 2% ($40 dollars or less) will take you 30 years to pay off the amount plus interest.

4) Review Your Credit Report Regularly

Monitor your credit report from all three major credit bureaus - Experian, TransUnion, and Equifax - on a regular basis. Check your credit profile at least annually. Review it carefully and make sure that any past mistakes or disputes have been corrected.

Also, if you notice an account listed that you know that you have not personally opened, contact that creditor and the credit bureaus immediately. This could be a sign that you've had your identity stolen. Request to have a fraud alert placed on your profile and account to protect yourself and your credit. Identity theft is the fastest growing consumer crime in America, with an estimated 1 million people victimized each year.

Establish good credit habits early in life and reap the benefits that your good credit rating will provide you for the rest of your financial future.

Author: James H. Dimmitt.
More articles visit http://credit-card-tips-info.blogspot.com

Save Money and Lower your Payments

2006-12-25T02:50:00.000-07:00

Having a better credit score not only represents easier access to money from lending institutions, but more importantly represents instant money in your pocket.

This probably sounds like something obvious for most of people, but it isn't until you start thinking in terms of real examples and real dollars that most of us start to understand the magnitude of the benefits associated with a good credit score.

For example, let's say that John, with a credit score of 640 wants to buy a house with a 20% down payment. At the same time, Terri who has a credit score of 720 wants to buy the same house with 20% down also.

Did you know that John, will be paying $108,600 more than Terri for the same exactly house? (assuming a $200,000 sale price with a 30 year mortgage).

People with credit scores of 720 and higher are more likely to retire younger and wealthier, because they will have to pay less money to acquire goods like their home, cars, etc; than someone with lower credit score.

Getting a credit score of 720 is not as difficult as credit institutions make it sound. There are proven techniques and guides that can help you achieve that goal.

Copyright © 2005 Excellentcreditnow.com All Rights Reserved

Carmen Shearer is the President and CEO of S&S Financial Services. She has worked in the finance arena for over 10 years and holds two engineering degrees and an MBA from a branch of Harvard Business School. S&S Financial Services offers you credit repair tools and information with a lifetime guarantee. For more credit related information go to: http://www.excellentcreditnow.com

What could be better than zero interest credit cards

2006-12-24T07:47:00.000-07:00

What could be better than zero interest credit cards? What could be better than having the best, lowest, guaranteed credit card in your wallet?

1) How about cash? Would that work for you?

How about a big fat check at the end of the year, in the thousands and thousands and thousands of dollars?

Would you like to get PAID thousands of dollars each year, just for spending money that you ALREADY SPEND?

You might realize that I'm not talking DIRECTLY about interest rates. But listen, I can't get much lower then zero interest. I need you to think creatively with me now.

2) Rewards Cards, otherwise known as incentive-based credit cards. Let's start there.

These are no secret. Many of us have rewards cards. I have several, in fact, and I get many rewards for spending with them. I get airline miles, and I get gas vouchers, and I get discounts at online stores?AND?I get Cash.

But let me talk about a HUGE secret that most people are not yet fully exploiting for their personal and financial gain.

3) My family and I are just now getting into making money with Cash-Back offers:

Cash rebates, Cash-Back cards, those are the ones I want to focus on with you here, for a second.

How do these cash-back cards lower your interest rate? Well, at this stage, it's a semantics game, but if you have 9% interest for example, and you use a cash-back credit card that pays you 3% on all transactions?Well, that's like getting a 3% discount on the rate, so your charge is more along the lines of 6%. It's not EXACTLY like that, but you get the point.

More importantly, let's dig deeper.

4) I'm going to tell you how to TURBO-CHARGE this mechanism, and EXPLOIT IT FOR EVERYTHING it's WORTH.

You see, your credit card company wants you to spend as much money as possible with their plastic.

Yes, they'd like to charge you interest on debt. But even if you pay it off every month, did you know that they still make a profit on the transaction from the Merchant fees?

Yes, the credit card charges the merchant a fee for swiping your card. It can range anywhere from 1% to as high as 6%...

It does not impact you the consumer (directly), but it does give you some insight into why you can become business partners with your credit card company.

5) Secret # 3 revealed: Here's what my family and I are doing:

We use our cash-back credit card for EVERYTHING.

We simply have restructured our spending so that all expenses, or almost all expenses, go through our cash-back credit card.

Grocery stores, restaurants, shopping, dining, gas?Everything. In fact, as of the writing of this article, American Express® has developed a Bill-Pay type system so we are able to actually pay some of our bills using our cash-back credit card.

Can you imagine? A credit card company developing online bill-pay. Now, how SMART is that?

6) Let me ask you something. How much money do you spend every year on expenses?

Don't get your calculator out, because the answer is simple. You basically, spend?.AS MUCH AS YOU MAKE?

The vast majority of us do. So, let me ask you the same question a different way: How much money do you make?

How much is 3% to 5% of that?

I'll give you an example. If the average household income (and expenses) were around $50,000, then that means a savvy consumer, with a cash-back credit card, could generate a check every year of between $1500 and $2500.

7) Holly Cape Canaveral, Batman!!! That's $2500 free cash dollars, every single year!

What would YOU do with all that free money? Buy a vacation, a new TV, some jewelry?

Are you getting it, now?

You must start looking at the Cash-Back credit card as more then just an incentive or reward.

Frankly, it is a new source of income.

8) Now, here's the nitty-gritty on how we do this. It's simple.

The first step, is we gathered all our credit cards, put them in an envelope, and put that envelope in our lockbox in the attic. We replaced all our plastic in our wallet with the cash-back credit card of choice. We also put an emergency debit card in our wallet, but the primary method now for spending, is to use the cash-back card. This takes care of gas, food, restaurants, etc.

The second step, is the process of restructuring expenses through the online bill-pay system with our cash-back credit card company.

We re-route as many expenses as possible through our cash-back card. It takes a little time, and doesn't happen in one day.

But do the legwork. Be a smart consumer like my family and I.

9) There's a perk, too!

The perk is outstanding! Have you considered, that my family and I only really have one payment a month to make? That's the goal we're moving towards anyway.

So, think about how many bills you pay each month. Wouldn't it be nice to just make one payment out for all your expenses, rather then a check to the gas-card, a check to the utilities, a check to the Credit Card Company, etc.?

Think of the convenience and time saved, to just make one payment out each month.

10) A lot of information to take in, yes? Let's pause here:

If you've followed my train of thought, then you've come to the Secret knowledge of how to extract and exploit the power of these cash-back cards for everything they are worth. If you do this, even just the first part, you will take a money saving incentive program, and turbo-charge it into an actual income producing technology!

Pretty, cool, huh? SHHH! It's a Utopian secret.

We've enjoyed providing this information to you, and we wish you the best of luck in your pursuits. Remember to always seek out good advice from those you trust, and never turn your back on your own common sense.

Publisher's Directions: This article may be freely distributed so long as the copyright, author's information, disclaimer, and an active link (where possible) are included.

Disclaimer: Statements and opinions expressed in the articles, reviews and other materials herein are those of the authors. While every care has been taken in the compilation of this information and every attempt made to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. The author will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.

About The Author

Tom Levine provides a solid, common sense approach to solving problems and answering questions relating to consumer loan products. His website seeks to provide free online resources for the consumer, including rate-watch, tips and articles, financial communication, news, and links to products and services. You can check out Tom's website here: http://loanresource.org, or you can email Tom at info@loanresource.org.

How To Choose Credit Card for best

2006-12-22T00:24:00.000-07:00

Reach into your wallet or purse, pull out a card, swipe, and you're done. It is very easy to use a credit card. The problem lies in choosing a card - and it has nothing to do with the picture on the front! Choosing a credit card that works best for you is vital to your credit rating. If you choose incorrectly, you may find yourself in deep debt trouble. Here is some basic, yet extremely important, information that will help you make the right choice.

Your Money Handling Habits

Choosing a credit card that is perfect for one person may be a dismal failure for you because your habits are different. When it comes to choosing your credit card, you need to look very closely and honestly at your habits.

For instance, do you typically carry a balance or do you pay off the card at the end of each month? If you answered "yes" then you will need to shop for:

# A low Annual Percentage Rate (APR). The APR the interest rate you will pay on any outstanding balances each month. The higher the rate, the more you will pay in interest charges.

# A fixed-low rate. This means that they will guarantee that your rate will stay low. Oftentimes, a company will offer a low introductory rate to get you signed up and then increase the rates drastically in 3, 6, or 9 months. The problem with a guaranteed rate is that an annual fee often accompanies it. You will need to decide if the lower interest rate guarantee is worth the cost of the annual fee.

If you will be paying off your card at the end of each month, you will not have to worry as much about a low APR since you will not be using it. And with no need for a guarantee, you may be able to avoid yearly fees. However, you will want to be sure to get a card with a grace period.

# Grace Period: Be careful to get a card that allows you to pay off your bill at the end of the month with no finance charges. Those that don't offer the standard grace period begin charging you interest the moment you make a purchase.

# Cash Advance Fees: Be aware that most cards charge interest, and sometimes at a higher rate, for cash advances and this charge begins with no grace period even if your card offers a grace period for purchases.

You also need to decide how reliable you will be when it comes to paying on time and keeping yourself under the card limit. If you are often late paying your bills or often do not know how much credit you have left, you will want to watch out for transaction fees and other charges. Many card companies charge a late fee and an over-the-limit fee. These can be substantial. Your best bet is to pay on time and keep under the limit, however, finding a card with lower charges is a good idea.

Here is another important question to consider when looking at your money handling habits: Do you use the card rarely, occasionally, regularly, or frequently? Those that use their cards for just about everything instead of using cash or checks will want to look for credit card protection. This way, if you lose your card or it is stolen, you will not be responsible for any purchases made.

Finally, consider the different benefit programs that cards are offering.

# Do you travel? Then consider a card with frequent travel miles as a reward. Or perhaps one that offers traveler's insurance.

# Do you use your card for large purchases like electronics? You may want to consider credit card insurance that will replace your equipment for a specified period of time if it breaks down or gets stolen.

# Are you saving to buy a new car? There are cards that offer new car rebates.

# Do you have a favorite charity? Many cards now support specific charities, universities, and organizations by paying the entity a specific amount with each purchase you make.

What matters most is to find the features that fit your pattern of spending and paying. Don't get fooled by the gimmicks or the advertisements. Know your spending habits, look at the small print, and choose the card that is best for you. With all the different cards available, you will be able to find the right fit for you.

Wesley Atkins is the owner of http://www.credit-cards-advisor.com- which aims to get you fitted with the best credit cards to suit your situation. With numerous credit card articles and easy online credit card applications you will never choose the wrong credit card again.Visit at http://credit-card-tips-info.blogspot.com

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The High Cost Of Bad Credit And What You Can Do About It

2006-12-21T05:46:00.000-07:00

Have you being turned down for credit cards, loans or mortgages? Do you want to improve your credit rating?

If you're tired of being declined again and again by lenders, it's time you did something about it.

Most people do not understand the consequences of having damaged credit. Your ability to buy a car, house, or finance any other major purchases will be hindered if you have poor credit rating.

A bad credit rating will prevent you from getting access to loans, or financing for your purchases. Or if you do get financing, then you'll get charged the highest interest rates. Therefore having a bad credit record will cost you more money.

Once you have damaged credit you will realize just how it can affect your life on many levels. There are many things you can do to eliminate your bad credit.

First of all, take a look at your credit report. Many people have no idea what their credit report says about them You need to know what information is being distributed about you by credit bureaus.

Order your credit report from the credit bureau. Once you receive your report, scour it for errors.

Next, challenge any incorrect information on your report. By law the credit bureau must investigate it and inform you of the results of their investigation.

Then add positive credit items on your report. There are several proven ways to boost your credit rating.

To improve your credit rating, you absolutely must pay all your bills on time each month.

Conleth C Onu is the owner of http://www.aboutcreditrepairadvice.com Please visit his website for more information on credit repair and how you can rebuild your credit.

Credit Traps Snag Consumers

2006-12-17T06:39:00.000-07:00

At the top of the list is the "universal default clause" which allows issuers to monitor you credit report and raise your rate if you are late on any bill that appears on your credit report. One major issuer, for example, will hike a 0 percent rate to 24.99 percent if you slip up!

In fact, true "fixed rates" are rare. Many consumers don't realize that a "fixed" credit card rate isn't the same as, say, a fixed-rate mortgage. In most states, card issuers can raise the interest rate on a fixed-rate credit card with just fifteen days' written notice. The new rate can typically apply to existing balances as well as new purchases.

Fees are also on the rise. Take late fees, for example, twenty years ago a late fee on a credit card was still fairly unusual, and typically wasn't charged unless you were 15 days late with a payment. Now you often must get your payment to the issuer by a certain hour in the morning or you'll be charged a late fee of as much as $39. Go over the limit and you'll not only pay more interest, but a steep over limit fee as well.

Foreign travelers are often charged a "currency conversion charge" of 1 - 2 percent of the amount of their purchase. As the result of a class action lawsuit, Visa and MasterCard were ordered to provide refunds of those fees in certain circumstances. The problem wasn't that the fees were illegal, but it was determined they weren't properly disclosed. The case is being appealed.

Here are some findings from the nonprofit Consumer Action's annual survey of credit cards (www.consumer-action.org):

-- The vast majority of surveyed cards have significantly higher penalty rates that are triggered by one or two late payments in a period of six months to a year.

-- One-fifth of surveyed issuers have shifted to tiered late payments, which Consumer Action interprets as a deceptive way of charging higher-than-average late fees.

-- The number of cards with $35 late fees has more than doubled from last year.

-- More than half the cards surveyed require cardholders to pay only 2 percent of the monthly balance each month - a disturbing trend that dramatically increases the overall interest paid by cardholders.

-- More than one-third of surveyed institutions will not provide a firm annual percentage rate (APR) until they have screened the applicant's credit history. Instead, they give only a meaningless range of rates before screening, which makes comparison shopping difficult if not impossible.

Don't get me wrong - I am not saying that credit card companies should not make money. In fact, easy access to credit has helped fuel our economy, especially when the going gets rough. But many consumers now are literally trapped by high-cost debt with few options. I've spoken to consumers who feel they have no choice but to file for bankruptcy because their credit card companies all raised their interest rates to between twenty and thirty percent, and they simply cannot manage to pay the balances down. With all the landmines out there for credit card users today, the best strategy is still to pay down debt as quickly as possible and limit yourself to a couple of cards to avoid problems.

Sometimes, of course, that's easier said than done!

For more information on ways to build great personal and business credit, visit www.BusinessCreditSuccess.com.

Keep Your Credit History Clean - Remove A Negative Credit Record From Credit Report

2006-12-16T22:43:00.000-07:00

In this situation you have to prepare and send letters to each of the credit bureaus. Also learn your credit rights by familiarizing yourself with the Fair Credit Reporting Act (FCRA).The three major credit bureaus, Experian, Equifax and Trans Union are similar and feature a "Credit Score", which is created from credit report data submitted to them about you.But very often your credit report includes inaccurate, wrong or incomplete information (credit records).

The FCRA gives you the right to dispute inaccuracies or omissions, and it requires credit bureaus to investigate your complaint (generally within 30 days), send you a prompt response and correct any errors. The law also requires the source of inaccurate information (such as a bank) to correct the record at the credit bureaus to which it initially provided the erroneous information.

Consumers working on their credit reports say many times their letters are ignored by the credit bureaus. Consumer's say even with proof a credit record is not theirs; its removal from their credit report can take three or four challenge letters, because the credit bureaus may have only verified it in their computers and not on the credit report.

Send your dispute letter by CERTIFIED RETURN RECEIPT MAIL. This should not be done with the first attempt.

Keep a record of when you sent the dispute letters and what date you should expect a response.

If you have received no answer to your dispute after 30 to 37 days, send a certified return receipt letter requesting an updated credit report demanding the disputed credit record be deleted.

If the bureaus do not reply within the 30 days, it must be that the information was either inaccurate, or it could not be verified. In either case, according to the Fair Credit Reporting Act, the credit record must be immediately deleted from credit report.

Some consumers have eliminated negative marks on credit reports simply by going through this process of disputing credit records several times. Since some creditors will not take the time to respond, you may be able to win by default.

In addition, some consumers working on their credit report have seen another negative credit record or two disappeared. Usually some progress is made each time you challenge. Remember, the credit bureau would like you to quit bothering them because if you aren't disputing the credit report, they can legally continue selling it as profitable information.

To obtain the excellent credit report service, correct your credit, get FREE online Credit Report, make your Credit Score higher or avoid becoming a Victim of Identity Theft visit Legal Helper website ( http://www.legalhelper.ws/credit-report.aspx ).

Your credit score is important for obtaining credit. Your credit score is important to know, whether you need a new credit card, an auto loan, or a mortgage. Lenders use your credit scores to decide whether you are a good credit risk. If you have a high credit score, you are more likely to obtain the best rates.

About The Author
Jeffrey Broobin is a free-lance writer on family and finance issues; his main goal is to help people during their complicated period of life.

Website: http://www.legalhelper.ws
jeffreyb@legalhelper.ws

the best places to find the right loan

2006-12-15T15:46:00.000-07:00

If you’re looking for a debt consolidation loan, then one of the best places to find the right loan for you is online. Why?

Because there’s a wealth of information on all aspects of debt consolidation online. You can even find reviews of the different debt consolidation companies, as well as the opinions of people who have already used their services.

Because of the internet, researching debt consolidation has never been easier. And once you’ve found the company for you, it’s very straight forward to make an application straight away online. All you need is your personal information that you would need to take to the bank anyway. It’s also very safe to apply for a debt consolidation loan online, due to the advances in secure servers online.

However, you will still need to take your time in filling out the various forms online. You’ll need to fill out a form stating all our debts, such as your credit cards, other loans, store cards, etc. You’ll also have to tell them the balance of each debt.

So what happens next?

Once you’ve applied for your debt consolidation loan and been approved, your debt consolidation company will contact all of your creditors on your behalf. They will arrange to lower your interest rates (which will lower your monthly payments, too) and they will roll all of your debts into one monthly payment.

Now this doesn’t make your debt go away. We’d all like to roll our debt into one, and have it shrink into nothingness. But in reality, it will be more affordable each month. Your debt consolidation company will make sure that the monthly payment is well within your financial means. You’ll have to pay the loan off for a longer period of time however.

But this will mean you’ll have some spare cash each month, which you can use to pay off your debts, or just to have a little money to yourself to allow you to enjoy life more.

It’s important you don’t make the common mistake of spending on your credit cards again, however. It can be very tempting (I know, because I’ve been there before) but don’t! Otherwise you will find yourself a few years later having to pay a debt consolidation loan, as well as more credit card debt.

A good idea is to leave all your credit cards at home when you go out, and keep just one of them with you for emergency use only. This means you still have the security of having a credit card with you, but you won’t be tempted to spend more money and put yourself into further debt.

Mark Barclay is owner of The Debt Consolidation Blog, where he gives free advice on all aspects of debt consolidation, including debt consolidation program information. For more advice on debt consolidation loans from someone who's been there, be sure to visit Mark's blog right now. It could save you a lot of time and money.

How You Use Credit Card Sensibly

2006-12-12T02:37:00.000-07:00

A credit card is a wise option if you wish to make frequent purchases and keep a track of your expenses. The facilities could even be used to postpone payments on certain articles, thereby earning more interest on your money.

It enables you to shop without carrying large amounts of money, thus eliminating the risk of theft. However, the credit limit on the card should be used sensibly, to avoid a bad credit rating.

Ways to use your credit card wisely:

Listed below are some tips on how to manage your credit card sensibly:

Select the right credit card: It is essential to choose a credit card that meets your specific requirement and adds significant value to your monetary assets. You need to shop around and compare cards, before selecting one that offers the best rewards at low interest rates.

Don’t buy if you can’t afford: Credit cards make provision for you to ‘buy now and pay later’. However, you should buy only those articles with the credit card that you are sure to afford paying back, within the time limit allotted. You should be aware that most credit cards charge an additional fee and a relatively higher rate of interest on late payments. You need to carefully analyze the pros and cons of the offers, to increase your credit card limit.

Avoid paying extra fees: Banks charge an annual fee on credit cards and so the use of fewer cards would mean less annual charges and minimized interest rates. Before opting for a credit card, you need to compare the benefits offered with the fees charged by the credit card company.

Pay on time: It is important to make a regular monthly payment, without crossing the credit limit. You ought to try and pay more than the minimum amount. The faster you pay, the quicker you minimize your debt on the credit card account. This helps to avoid the extra fees charged and the high interest rates applicable.

Manage debt wisely: It is important to manage your debts in a responsible manner. It would be beneficial to discuss your financial issues, if any, with the company and bank. You could adopt a payment schedule to help manage and curb your credit card debt.

Don’t use a credit card for long-term borrowing: Funding long-term borrowing through a credit card is not advisable. This would only increase the rate of interest on your credit card account.

Utilize the interest- free period: Most credit cards offer an interest-free period. The period could be anything between forty-four to fifty-five days. You are promised additional interest-free days if you make purchases at the beginning of the month. A comparatively lesser number of interest-free days are offered on purchases made at the end of the month. You are expected to pay the entire credit card closing balance within the time limit specified, if you wish to avoid paying interest on your expenses during the interest-free days.

Credit cards are a great help to those who wish to avoid paying by cash. However, you need to make use of the facilities offered judiciously.

Joe Kenny writes for CardGuide.co.uk, offering the latest 0% credit cards, and also many 0% balance transfers to transfer your debt to a 0% credit card deal.
Visit today: http://www.cardguide.co.uk/

Article Source: http://EzineArticles.com/?expert=Joseph_Kenny

Best Instant Credit Card Online

2006-12-09T15:20:00.000-07:00

Are you looking for the place where you can get the best and easiest approval credit card instant online. Before that you need add your knowledge about it.

What is Instant Credit Card? How we get it? How soon we can use it? What do we mean when we say an instant credit card? As most of the internet surfers should already have noticed, many credit card companies operating online and offline for that matter, announce they can offter the best credit card online, even with instant approval if you apply for it on their website.

Some people think that this means they can instantly download a copy of a card like waving a magic stick and start to purchase with it immideately. Let's sort out some confusion here. Many credit card websites can approve your application instantly, which in most cases means within a few minutes. But that doesn't mean you can print out your card and run to your local Wal-Mart or Target or wherever and immedeately shop. Of course you can shop, but not with your newly approved card, because you have not received it yet.

Though the approval procedure only takes minutes, you have to be patient and wait for your card. This will be sent in the mail, and it will take a few days. Now, the nice thing with applying online for a card is that you know if you are approved for it or not within a fairly short time, and I would think that this is the best thing for people to know, or like the saying goes "those who are waiting for something good don't wait in vain"

Compared to the old-fashioned way of doing it, returning the snail mail offer for a credit card, waiting days or even weeks for the bank or credit card company to process it and run your credit, and finally waiting for them to send out your new credit card, the online way is far more convenient and fast. Another advantage of doing the application online is that it also gives you a fantastic option to compare the cost of credit offered from a lot of card companies.

There are certain limitations however on who is eligible for an Instant online credit card approval. Instant approval credit card offers are targeted to - or at least originally meant to be for - people with good credit records. However, there are ways to go around this and sometimes this might be pure luck. What I mean is, sometimes the card company you apply to, may not be able to access your credit records for some reasons. But this is an exception. The competition on the credit market is so high today, that some companies are willing to tow the line pretty far to get customers. The bottom line is that even if your credit history is not so good, you can obtain an instantly approved credit card. So regardless to what your credit rating is, there is no reason not to apply.

If you want to apply for an instant approval of a credit card online, go to the web and search for instant credit card approval an you'll have more than enough websites to choose among, giving you the opportunity to compare the offers from different sites with respect to the cost of credit. Then you will be able to find the best deal.

Master in Credit Report

2006-12-08T02:21:00.000-07:00

The Fair and Accurate Credit Transactions Act, signed into law on Dec. 4, 2003, gives every American the right to a free credit report every year from each of the three major credit bureaus -- Equifax, Experian and TransUnion.

What the law doesn't do is give every American the ability to read their credit report. Not one word in the law says the credit bureaus have to write it in plain, easy-to-understand language. Go to http://www.ftc.gov and click on consumers then credit and read it for yourself. Hopefully you'll stay awake .

While all credit reports follow a basic format, some vary so what you are about to read doesn't apply across the board. If you didn't get it directly from one of the bureaus mentioned above, your best bet for a translation is the source providing your copy.

Here is the four part skeleton most bureaus use. Part one is your identifying information. This would be information like your name, social security number, previous addresses, current address, date of birth, driver's license number, telephone number, spouse's name and your employer and length of employment. As with all sections, pay close attention because chances are pretty darned good, some of it is wrong.

It is wrong because this information comes to the bureau from a myriad of sources and the bureau doesn't take the time to update or correct it. That leaves you as your own correcting agent.

Part two is your credit history. This is usually the longest part of your report because you probably have had department store accounts, multiple credit cards, multiple bank and other financial institution loans, mortgages, car loans, lines of credit, home equity loans and other transactions involving credit.

Sometimes you will see the bureau calls these accounts trade lines. No big deal because they are still your accounts.

These accounts usually start with when you opened the account then tell the type or kind of credit (installment, car loan, personal loan, etc.) and whether it is in your name or someone else is on the account with you. The total amount of the loan with your high credit limit or if it is a credit card, your highest balance follows. The next thing it shows is how much you still owe and if the payments are fixed or minimum monthly amounts. Your status, open/inactive/closed/paid, follow your payments then comes the item everybody wants to know, how well you've paid on the account.

This is where the bureaus list if you are late, and if late, how late and how often you've been late. If you are not late, it will show you pay on time.

Part three is called Public Inquiries or Public Records. This is where tax liens, judgments, foreclosures and bankruptcies are listed. You want this part to be blank and I do mean blank. If you see anything here, attempt to correct immediately if not sooner.

Part four is the Inquiries section. It is divided into two parts. Part one are the inquiries you initiate by filling out a credit application. This section is generally referred to as the hard inquiry section because you are the initiator of the inquiries.

The second part is called the soft inquiry section. What you'll find here are the names of companies who have sent you offers of credit or current creditors who are monitoring your account.

Sometimes there is a fifth section called Remarks. Read it because you never know who reported what about you.

Each credit report bureau places an explanation of terms usually on the backside of the report pages. In it, they explain what the numbers and letters you see next to your accounts mean. So, if you see something like I9, don't fret as it should be defined in the explanation of terms.

Of course, I9 could be negative, so you may have to fret. Either way, you are now almost totally armed to deal with that free credit report the law said the bureaus had to give you.

Good luck and may all your credit be A+.

Tom Koziol wrote "Credit Card Capers: Exposing All Their Dirty Tricks" as an expose on how the banks are robbing consumers via their credit cards. Get the dirty lowdown at

http://www.creditcardcapers.com

These Days People with Adverse Credit Also Find Loans

2006-12-07T11:25:00.000-07:00

At one point or another you must have required loan. These days, financial scarcity is an integral part of every individual’s life. What will you do, from where will you seek help if you do not have money and your needs are indispensable. Well, an indisputable solution is to apply for loans. But it is not as simple as it may seem to be. You may have applied for loans and your loan application might have been rejected by several lenders because of your bad credit rating. It might have shattered your dreams more than once. But with ever changing time, financial policies have also witnessed a change. Now, there is no more scarcity of the lenders who can provide loans to people with adverse credit history. These loans are designed especially to cope with the requirements of people with adverse credit history.

Moreover, the terms and conditions of adverse credit loans are customized in such a way, that it will not only fulfill your financial needs, but, will also help you mend your existing credit history. Now, let us discuss in detail how it works to meet the specific requirements of an individual. For better understanding of these loans, first of all, we have to thoroughly understand the concept of adverse credit.

What are adverse credit loans? Adverse credit loans are issued to people with adverse credit, which results from County Court Judgments (CCJ), bankruptcy, Individual Voluntary Arrangements (IVA), defaults and arrears in your credit file. If we talk in more general terms, it implies a case of missed or non payment to the lender within the predetermined tenure. An adverse credit affects our credit record badly and thus creates trouble while applying for loans. To mend your present adverse credit record you should first check that whether it was a result of your own mistake or due to forces beyond your control. It might have been caused by the person, with whom you no more share any financial liaison.

The rate of interest that a borrower is supposed to pay for adverse credit loans is usually high. Adverse credit loans do not necessitate any collateral, which is the reason behind charging higher rate of interest as compared to any other loans. There are a large number of companies that can facilitate you with adverse credit loans. Its processing may take near about 24 hours or so to cater your needs. You can also apply through online sources to find the best quote. Getting a second chance for credit line may imply getting back on your feet. Whether you want to buy your dream house or finance a holiday, adverse credit can no more be a hurdle in your way of getting loans.

Peter Taylor is a senior financial analyst at LoansX with an acumen for finance and insurance. In recent years he has taken up to provide independant financial advice through his informative articles. His articles are widely read because of the lucid manner of writing and thoroughly researched datas. To find Short term loans, Bad credit loans, Adverse credit loans, Low cost loans, Online loans, Pay day loans open that best suits your need visit http://www.loansx.co.uk

Credit Card Photo ID

2006-12-05T10:12:00.000-07:00

It may appear that credit card fraud has been so rampant that credit card companies have taken it upon themselves to make life difficult for unscrupulous con artists. Credit cards nowadays have, aside from the magnetic strip on which all your details are contained and strip where you should place your signature specimen, security numbers (the three digits at the back of your card), and some have even integrated the chip and pin safety into the card itself (allows users to pay by plugging in a pin number). Another safety feature some card companies have incorporated is the issuance of Photo ID Credit Cards.

Photo ID Credit Cards are just your ordinary credit card except that a small photo of the cardholder is printed on a corner of the card itself. Usually, underneath this photo is the signature of the card holder, so merchants can check the photo image and the signatures on the front and back of the card; to see if the picture resembles the person using the card and if the signature affixed on the transaction document is similar to the ones imprinted on the card.

If you want to make sure that, even if your credit card is stolen, no one can be able to make unauthorized purchases on it; you can opt to secure a photo ID credit card. With this kind of credit card, you can be certain that whoever has it will have second thoughts about using it. In case, however, that you do misplace your card, even though you hold a photo ID credit card, it still is best to report it’s loss to the credit card provider so that they can immediately block any further purchases.

This article is brought to you by CardRatings.net. Compare and Review 100’s of Top Credit Card Ratings. After comparing credit card offers, Card Ratings allows you to apply for the credit card of your choice by clicking the Apply Online button. Search by Balance Transfer Promotions, Poor Credit, and More.

Learn about credit card consolidation

2006-12-04T07:22:00.000-07:00

Credit Card Consolidation

How to save money in interest and finance charges
There are a lot of people out there with significant credit card debt. With bills piling up and interest and finance charges more than your minimum payment every month, it can look like you will never get out of it. But there are answers out there.

Of course the simplest solution is to pay off your balances every month. This is a preventative measure, assuring that you’ll never get into credit card debt. But this is not possible for everybody. So, what else can you do? What if you are already in debt and can’t pay off what you owe any time soon? Credit card consolidation may be the solution for you. The following will discuss all your options in better detail.

Balance Transfers & Introductory APR Rates
Another answer would be to transfer your high interest credit card balances to another credit card with a lower interest rate. This is called a balance transfer and works well for some people.

But you should be careful of some cards that offer you an introductory annual percentage rate (APR). This means that the interest rate will be low for a limited time and rise after that initial period. If you go that route, make sure you can pay off the balance before the initial low interest period is over, or you’ll wind up in the same position you are in now.

Credit Card Consolidation Loan
Another solution is a credit card consolidation loan. A credit card consolidation loan can help you to consolidate the outstanding debts on your current (high-interest) credit cards to one with a lower interest rate and lower payment.

Here is how a credit card consolidation loan works:

Let’s say that you have an outstanding balance of $10,000 in credit card debt.
Now, let’s say that the annual percentage rate is 20%.
If the outstanding balance stays at $10,000, then you will pay $2,000 in interest charges.
Here is how that works out: $10,000 x .20 = $2,000

This doesn’t even include the finance charges that you are likely to incur during that period.

But let’s say that you take out a credit card consolidation loan.
You can convert those high-interest credit card payments into a single loan with a lower interest rate.
So, let’s once again say that you have $10,000 in outstanding credit card debt.
You take that and convert it into a credit card consolidation loan with a 9% interest rate.
Let’s see what that comes out to: $10,000 x .09 = $900
This is an annual savings of $1,100 in interest charges.

And if you put that savings towards to principal of your debt, you can pay it off even faster. This makes a credit card consolidation loan desirable for many people.

These are just some ways you can get rid of credit card debt. But credit card debt of any sort should be taken seriously. It is usually a sign on something more deep-rooted than just bad spending habits. It is usually a sign of a more serious problem and debt is just a manifestation of that problem. If you have significant credit card debt you may want to seek individual, professional financial counseling.

Before beginning a credit reduction or credit rebuilding strategy, contact your account or financial advisor to discuss your specific credit and financial situation.

For additional articles and tips about credit and credit card related issues, please visit our articles section.

Is Your Credit Healthy?

2006-12-03T04:21:00.000-07:00

How Healthy Is Your Credit
There's only one way to discover the "health" of your credit. You need to examine your credit report. Your credit report is your "consumer identity" that potential lenders will use to judge your credit worthiness.

Use these tips to give your credit profile the "tune-up" it needs for 2004.

Tip #1- Check for Errors Your credit report or profile
Is more than just a collection of who your creditors are and how much you owe them or have paid them.
The first thing you need to do is carefully check that your credit report is accurate. Nearly 70% of credit reports contain errors.
These errors may be as simple as an incorrect middle initial or address. Or it could be as serious as a creditor reporting that you were late with a payment when in fact you were not late at all.
This error might not seem like a big deal to you. However,to a future lender like a mortgage company it makes a big difference !

Carefully examine your credit report and if you find an error contact your creditor and the credit bureaus. Catch and correct these errors now before it hurts your chances of securing credit in the future.

Tip #2 - Correcting Errors
The two most common errors contained in credit reports are:
1) wrong account information
2) incorrect recording of late payments.
If you find an account reported that does not belong you, you need to contact the credit grantor or issuer immediately. Remember, finding accounts that you have not personally opened is a sign of possible identity theft.

Hopefully you'll discover that this error is nothing more than an oversight and not an identity theft problem. Most often this occurs when they report an account belonging to a family member or someone with a similar name on your credit report.

If your problem is an error in reporting a late payment you will need proof to back up your case before this error can be corrected or removed. The most common error occurs when a payment is reported as "late" when it was actually a current or "on time" payment.

In either case, the problem can and should be corrected. You will need to correct the error in writing. Keep a journal or log of all calls and correspondence.
The Fair Credit Reporting Act (FCRA) requires the credit bureaus and the agency reporting the information to the credit bureau to correct inaccurate information in your credit report. Therefore, it is important that you contact both the credit bureau and the creditor whose information is in dispute.

A sample letter is included here to help you in correcting your credit profile. Make sure that you clearly identify the information that you dispute, include copies of receipts or documents that support your position. Then request that the information be corrected or deleted from your file.
Send your letter by certified mail and request a return receipt from the recipient. Keep all correspondence that you mail out. Give the agencies involved 30 days to begin their investigation. You can call them but be aware that phoning them does not protect your consumer rights! You must notify them in writing to protect your rights.

They must notify you of the results of their investigation. Although the process will take time, it's important to do it. This is your credit profile, your "consumer identity" that is at stake. Don't expect an error to correct itself.
At your request, the credit bureaus must send notices of corrections to your credit profile to anyone who has requested your report in the last six months. If you applied for a job and were turned down because of inaccurate information in your credit report, you can have the corrected report mailed to anyone who received a copy in the past two years.

---------------------------------- Sample Dispute Letter Date

Your Name Your Address Your City, State, Zip Code
Complaint Department Name of Credit Reporting Agency Address City, State, Zip Code

Dear Sir or Madam:

I am writing to dispute the following information in my file. The items I dispute are also encircled on the attached copy of the report I received. (Identify item(s) disputed by name of source, such as creditors or tax court, and identify type of item, such as credit account, judgment, etc.)

This item is (inaccurate or incomplete) because (describe what is inaccurate or incomplete and why). I am requesting that the item be deleted (or request another specific change) to correct the information.

Enclosed are copies of (use this sentence if applicable and describe any enclosed documentation, such as payment records, court documents) supporting my position. Please reinvestigate this (these) matter(s) and (delete or correct) the disputed item(s) as soon as possible.

Sincerely, Your name

Enclosures: (List what you are enclosing)

--------------------------------- End of Letter

Tip #3 - Budget Planning You can also use your credit report to help you plan and implement a personal budget. Your credit report will show you where you are spending your hard earned dollars. While the credit card balances may not be completely current, you'll still see which of your cards has the highest balance outstanding.

If you have more than one major credit card you should compare the annual percentage rate (APR) you are paying on each account. If you are working on a budget to "pay down" your credit cards, start by paying down the one with the highest APR or interest.
Once that credit account is paid off, move toward paying off the account with the second highest APR. Using this method you will be able to concentrate your efforts toward paying down your outstanding credit obligations.

You should also check with your credit card company to see what's the best annual percentage rate (APR) they can offer you. If you are a good customer, you can often qualify for a lower rate than what you are currently being offered.

Caution: Ask if the new rate you are getting is a "promotional" rate or a "contract" rate. A promotional rate will expire at the end of the promotional term, for example 6 months. A contract rate does not have an "expiration" as long as you continue to meet the terms outlined by your creditor for that rate.

Tip #4 - Making a major purchase If you are considering a major purchase such as a car or a home, checking your credit report gives you the chance to see what a potential lender sees and uses to judge your credit worthiness.
You want to make sure that your credit report is accurate before you apply for that sports car or new home. Errors or problems can be corrected before your lender can use those against you and deny your credit request. You'll also have a better idea of what type or rate of credit you should expect from a potential lender.

Tip #5 - Check your credit report regularly Check your credit report regularly. Guard your "consumer identity" as you would anything else you treasure. Use your credit wisely, along with these tips, and you will enjoy the benefits that your good credit and your good name deserve now - and for years to come.

Author: James H. Dimmitt.
James is editor of "TO YOUR CREDIT", a weekly free newsletter. More articles and tips please visit and make donation click for http://credit-card-tips-info.blogspot.com/

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Read Credit Card Information by Bank

2006-11-30T22:17:00.000-07:00

Chase Manhattan Bank
Chase Manhattan Bank provides many great offers: Platinum, Cash Plus Rewards, Flexible Rewards Card, Value Miles Platinum, Disney, Subaru, Toys "R" Us, Universal Entertainment Card, Gas Rebate Card, Continental Airlines and more.

Citibank
Citibank offers a great choice of cards with rewards, 0% APR for up to 12 months, low ongoing APR, no annual fee and instant online decision. Citi Platinum, Dividend, Diamond, Drivers, Upromise, and AT&T Universal Cards. Also see Citi business and student credit cards.

Capital One
Capital One offers credit cards for frequent flyers and shoppers who want to redeem rewards for travel, merchandise or cash back. Capital One also features platinum Visa and MasterCard credit cards with competitive rates designed for all types of credit.

Bank of America
Bank of America Choice Privileges Platinum Visa with low fixed APR, US Airways Visa, Alaska Airlines Card, Asiana Visa Platinum, Hawaiian Airlines Visa, Make-A-Wish Visa Platinum and Anne Geddes Visa® Gold.

American Express
American Express Credit Cards can earn up to 5% cash back with Blue CashSM. American Express cards offer free rewards program and great rates. Cards include Blue, Gold and Green Reward cards, Delta SkyMiles, Hilton Platinum, Starwood Preferred and Business Credit Cards.

Discover® Card
Discover Bank Introduces the Discover® Platinum Card with Cashback Bonus® Plus Program - Earn up to 10% Cashback on gas purchases, and 0% Intro APR. Choose from various Platinum card designs including Clear, Flag, Wildlife, Sealife Collection and more. Also available Titanium Card, Gold Card, and Student Card.

First Premier Bank
First PREMIER Bank offers secured and unsecured credit cards. Get your Credit back on track!

Advanta
Advanta Business credit cards offer 0% Intro and as low as 7.99% APR. Choose Between the Platinum Business Card, Advanta Life-of-Balance Platinum and the Advanta Platinum with Rewards.

HSBC Bank
HSBC Bank offers Credit Cards that include 5% Earnings and 0% Intro GM Card, the Orchard Bank MasterCard and the HSBC Platinum MasterCard.

MasterCard Credit Cards
The MasterCard, along with the Visa Card, are the most widely accepted credit cards in the world. MasterCard is owned by over 20,000 member organizations. They serve customers in over 210 countries, and process over 15 million transactions a day in over 180 currencies.

Visa Credit Cards
Visa Credit Cards are the number one credit card used by people around the world, Visa cards offer exceptional convenience and reliability. Visa has unsurpassed acceptance in more than 150 countries, as well as at Internet merchants. And with a Visa credit card, you can get cash at more than 840,000 ATMs in the Visa Global ATM Network. It's a secure, reliable way to pay for anything you need, anywhere in the world.

Post in : Info for Credit Card by Bank
Source : creditcards.com

What is Credit Report anyway?

2006-11-21T00:18:00.000-07:00

Your credit report is a very powerful report that essential controls what you can and cannot do in your life. Unfortunately many people aren't aware of what a credit report actually is and what information is contained on the report. This article breaks down what is contained on your credit report and tells you everything you always wanted to know about your credit report but were afraid to ask.

Your credit report is nothing more then a very detailed snapshot of your financial history that is furnished to anyone supplying you credit from the credit bureau. There are three main credit bureaus that handle a majority of these credit report request. They are Experian, Equifax and Trans Union. Each of these organizations are private in nature and routinely furnish your credit information when asked to do so for a fee.

Generally speaking the credit reports provided by the credit bureaus are very detailed and very accurate. For instance it's not uncommon for them to have information regarding missed payments as far back as 6 or 7 years. They collect this information in order to provide it to creditors prior to their providing any form of credit to a consumer seeking credit. The creditors can use the information they receive to determine if that same consumer can be considered a good credit risk. A good rating allows for more favorable credit terms while a poor rating essentially ends any chance for a consumer to obtain credit in the first place.

The amount of time that a blemish (such as a missed credit card payment) stays on your credit report can vary but normally these negative items are deleted after 7 years thanks to the Federal Fair Credit Reporting Act. Bankruptcies are another matter entirely and they normally remain in place for up to 10 years. Keep in mind that credit inquiries stay on your credit report for 2 years so closely monitor the number of times you apply for credit since a high number of inquiries can be viewed in a negative manner.

Until recently in order for a consumer to view their credit report they had to order a copy from one of the three main credit bureaus and pay a small fee. However new laws now allow for 1 free credit report every year to any consumer that wishes to see their credit report.

The power of your credit report is incredible. Even if you have built up a positive credit report any missed payment no matter how small the amount can result in a denial of credit. The best advice most credit can give is to stay current on your entire monthly financial or reoccurring obligations and don't overextend yourself financially.

Hopefully this quick article answered a few of your questions regarding your credit report. More detailed information can be found in various locations throughout the Internet. Don't forget to request your free copy of your credit report so you can see where you stand in the eyes of future potential creditors.

Timothy Gorman is a successful Webmaster and publisher of Debt-Relief-Solutions.com. He provides more debt relief, consolidation and credit repair information that you can research in your pajamas on his website.Visit at http://credit-card-tips-info.blogspot.com

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Tips To Repair Bad Credit

2006-11-19T03:39:00.000-07:00

Do you have a poor credit rating? If so, you are one of tens of thousands of Americans with the same problem. In fact, it seems that this has become a national 'disease.' And just what do people need that have a disease? They need a cure.
Here are some sure-fire solutions to ' repair bad credit '. Keep in mind, like most 'diseases,' credit repair can take some time, but complete healing is possible.

#Step 1
The first thing you need to do is find out what is being reported about you. This is easy and inexpensive. For under $10, you can get your credit report from one of the three main credit reporting companies: Equifax, Experian, or TransUnion. Keep in mind however, that if you have recently been denied credit, you can get a free report from the same credit bureau the lender used to reject you as long as you do so within 30 days.

What You Don't Need
You don't need a repair clinic. Why? There is no legal way to 'repair' your credit. Those that claim to know loopholes and shortcuts are merely out for your money. They may even get you into legal trouble by having you fudge the facts or creating a whole new file for you. Anything legal that a clinic can do, you can do just as easily and without the cost of 'professional' help.

Further Steps to Take
1. Stop using your credit cards immediately. Put them somewhere where they will not tempt you. You may consider keeping at least one card for emergency purposes. Additionally, with poor credit, you may find it more difficult to get a credit card in the future. If you keep at least one account open, then you won't have to worry about applying.

2. Be Honest With Yourself. Taking a good hard look at your financial situation, particularly if it isn't good, can be very difficult. Yet, to get out debt you have to fully understand what the situation is.

3. Find the Errors. Believe it or not, up to 40% of all credit reports have errors in them. If you find that your credit report shows something that is not true, you need to write to them with all the details. Be sure to use certified mail so that you can keep track of who you wrote to, when you wrote, and who received the mail on the credit bureau's end. Then ask the credit bureau to send a corrected report to anyone who has requested a report on you in the last 6 months.

4. Find the Omissions. By law, you are allowed to add information to your report that you believe will help your rating. This might be additional information about a repayment of a loan, good credit you have with companies that do not report to the credit bureau, or salary increases.

5. You Must Have a Plan. Whether you determine to pay your bills down little at a time, take a second job, go to credit counseling, or file bankruptcy, you need to make a plan and stick to it. In order for your credit to be improved, you have to have a plan and then take action!

6. Talk to those that you owe. Creditors want their money. They do not want you to default (quit paying). In fact, most creditors will work with you to get a reduced payment schedule. If you can keep them from reporting you to the credit bureau, then it won't hurt your credit. The catch here is this: be sure to stick to the new negotiated plan - they won't renegotiate if you fail to comply.

7. The Best Cure is Time. Have you ever heard the saying 'time heals all wounds'? It also heals your credit. After 7 years, most items will be dropped. This is good news if you are working to correct your credit. As each year passes, more and more bad items will drop off and more and more good items will be included. Eventually, the disease will be cured.

Follow these steps and you will find that your credit looks healthier and healthier each day. Eventually this path will lead you to full recovery. Good Luck!

Wesley Atkins is the owner of http://www.credit-cards-advisor.com- which aims to get you fitted with the best credit cards to suit your situation. With numerous credit card articles and easy online credit card applications you will never choose the wrong credit card again.
Visit also and make donation click for http://credit-card-tips-info.blogspot.com/